Hard Services Facility Management Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Hard Services Facility Management Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire.com/ -- The hard services facility management market has experienced robust growth in recent years, expanding from $609.12 billion in 2023 to $644.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to the expansion of multinational corporations, focus on workplace safety, aging infrastructure, increasing demand for customized and responsive service, and regulatory changes.

What Is The Estimated Market Size Of The Global Hard Services Facility Management Market And Its Annual Growth Rate?
The hard services facility management market is projected to continue its strong growth, reaching $810.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to an increasing focus on green buildings, remote work trends, smart building technologies, heightened focus on cybersecurity, urbanization, and infrastructure development.

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Growth Driver of The Hard Services Facility Management Market
The rapidly growing hospitality sector is expected to propel the growth of the hard services facility management market going forward. The hospitality sector refers to the sector of the economy that encompasses businesses and services related to accommodation, food and beverage, entertainment, travel, and tourism. The growth of the hospitality industry can be attributed to increasing globalization, rising disposable incomes, and the growing demand for travel and leisure experiences. Hard services facility management in the hospitality sector ensures the efficient operation and maintenance of critical infrastructure such as plumbing, HVAC systems, and electrical systems, enhancing guest comfort and safety.

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Which Market Players Are Driving The Hard Services Facility Management Market Growth?
Key players in the hard services facility management market include Siemens AG, Vinci SA, Bouygues SA, Veolia Environnement, Compass Group, CBRE Group Inc., Johnson Controls International plc., Sodexo Group, Jones Lang LaSalle Incorporated, G4S plc, Aramark, Jacobs Solutions Inc., Skanska Group, AECOM, EMCOR Group Inc., Cushman & Wakefield, Balfour Beatty plc, ABM Industries Incorporated, KBR Inc., Serco Group plc, Mitie Group plc, Capita plc, Carillion Alawi LLC, ENGIE Services, ISS Facility Services.

What Are The Key Trends That Influence Hard Services Facility Management Market Share Analysis?
Major companies operating in the hard services facility management market are focused on developing innovative services, such as digital platforms, to enhance operational efficiency, improve predictive maintenance, and offer real-time monitoring and analytics. A digital platform refers to integrated software solutions that facilitate the management, monitoring, and maintenance of a building's physical assets.

How Is The Global Hard Services Facility Management Market Segmented?
1) By Type: Mechanical, Electrical, Plumbing (MEP) Heating, Ventilation, and Air Conditioning (HVAC) Maintenance Services, Enterprise Asset Management
2) By Service Type: Outsourced, In-house
3) By Industry Vertical: Healthcare, Government, Education, Military And Defense, Real Estate, Other Industry Verticals

Geographical Insights: Asia Pacific Leading The Hard Services Facility Management Market
Asia Pacific was the largest region in the hard services facility management market in 2023. The regions covered in the hard services facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Hard Services Facility Management Market Definition
Hard services facilities management involves the maintenance and management of physical assets within a built environment. It includes services such as HVAC (Heating, Ventilation, and Air Conditioning) maintenance, plumbing, electrical systems management, and building fabric upkeep. These services ensure that a facility's infrastructure operates effectively, supporting the overall functionality and safety of the premises.

Hard Services Facility Management Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global hard services facility management market report covering trends, opportunities, strategies, and more

The Hard Services Facility Management Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hard services facility management market size, hard services facility management market drivers and trends, hard services facility management market major players, hard services facility management competitors' revenues, hard services facility management market positioning, and hard services facility management market growth across geographies. The hard services facility management market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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